When I tried pointing to an external (RAID via Ethernet) Volume for the library install, all the folders were grayed out: I could not create a new one or select any of them; so I just installed the Audio Unit (Component) to my System drive and copied the STEAM folder plus all its content from the DVDS without using the Installers on each DVD. I also put an Alias to the STEAM folder in my User/Library/Application Support/Spectrasonics folder.
Am I asking for trouble or should this work fine? Omnisphere opens, has authorized and everything seems to be working. I couldn't wait to contact Support and maybe find out why the external paths would not work for me in the Installer!!!
I also had the same problem with the Updater (1.0.1) but did the same thing-copying by hand the replacement files.